Fmr LLC decreased its stake in shares of A. O. Smith Corp (NYSE:AOS) by 39.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,273,030 shares of the industrial products company’s stock after selling 2,168,203 shares during the quarter. Fmr LLC’s holdings in A. O. Smith were worth $193,600,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Telemus Capital LLC boosted its holdings in shares of A. O. Smith by 1.3% during the 2nd quarter. Telemus Capital LLC now owns 71,525 shares of the industrial products company’s stock worth $4,231,000 after buying an additional 935 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of A. O. Smith by 0.7% during the 2nd quarter. Retirement Systems of Alabama now owns 159,098 shares of the industrial products company’s stock worth $9,411,000 after buying an additional 1,068 shares during the period. Synovus Financial Corp boosted its holdings in A. O. Smith by 12.5% in the 2nd quarter. Synovus Financial Corp now owns 12,742 shares of the industrial products company’s stock valued at $758,000 after purchasing an additional 1,412 shares during the period. LPL Financial LLC boosted its holdings in A. O. Smith by 9.4% in the 1st quarter. LPL Financial LLC now owns 16,846 shares of the industrial products company’s stock valued at $1,071,000 after purchasing an additional 1,449 shares during the period. Finally, Bath Savings Trust Co boosted its holdings in A. O. Smith by 37.3% in the 2nd quarter. Bath Savings Trust Co now owns 5,670 shares of the industrial products company’s stock valued at $335,000 after purchasing an additional 1,540 shares during the period. 75.40% of the stock is owned by institutional investors and hedge funds.
In other news, Director Paul W. Jones sold 4,591 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $58.92, for a total transaction of $270,501.72. Following the completion of the sale, the director now owns 214,558 shares of the company’s stock, valued at approximately $12,641,757.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.28% of the company’s stock.
NYSE AOS opened at $48.09 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.16 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.48 and a beta of 1.45. A. O. Smith Corp has a 12-month low of $40.34 and a 12-month high of $68.39.
A. O. Smith (NYSE:AOS) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.02). The business had revenue of $754.10 million during the quarter, compared to the consensus estimate of $805.92 million. A. O. Smith had a net margin of 10.83% and a return on equity of 24.98%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. On average, research analysts forecast that A. O. Smith Corp will post 2.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Tuesday, October 30th. This is an increase from A. O. Smith’s previous quarterly dividend of $0.18. A. O. Smith’s dividend payout ratio is 40.55%.
A number of analysts have issued reports on the stock. Zacks Investment Research downgraded shares of A. O. Smith from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. SunTrust Banks reissued a “buy” rating and issued a $71.00 price objective on shares of A. O. Smith in a report on Thursday, July 26th. Oppenheimer reissued a “hold” rating on shares of A. O. Smith in a report on Tuesday, September 18th. BMO Capital Markets reissued a “buy” rating and issued a $73.00 price objective on shares of A. O. Smith in a report on Thursday, July 26th. Finally, Boenning Scattergood reissued a “buy” rating and issued a $75.00 price objective on shares of A. O. Smith in a report on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $65.75.
A. O. Smith Company Profile
A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for use in space heating applications for hospitals, schools, hotels, and other large commercial buildings; and water treatment products, including on-the-go filtration bottles, point-of-use carbon and reverse osmosis products, point-of-entry water softeners, and whole-home water filtrations products for residences, restaurants, hotels, and offices.
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